Core Foundation launches $5M innovation fund to boost India's Web3 ecosystem
Core Foundation has announced a $5 million Innovation Fund to advance India's dApp ((decentralized app) ecosystem on Core Chain, the Bitcoin-secured and EVM-compatible blockchain. This fund aims to empower Web3 communities, enhance education, and provide vital support to founders and builders throughout India.
“India's startup energy is unmatched, and its Web3 ecosystem is no exception, booming with over 450 startups and $1.3 billion in investments. Our goal is to empower Indian builders, spur dApp growth, and merge Bitcoin's security with Ethereum's flexibility. This initiative will open new doors and boost India's crypto economy, with a focus on scaling Bitcoin and unlocking BTCFi," said Shivangi Pandey, Core Contributor, in a statement.
This entry into the Indian market also includes a roadmap for builder meetups, the Core Ambassador Program, hackathons, and collaborations with Web3 incubators and universities. Core Foundation also plans to launch an accelerator program in partnership with leading Indian Web3 venture capitalists and accelerators, providing essential support to the burgeoning community of Core Chain builders and founders.
Core Chain is the first Bitcoin-aligned EVM blockchain, designed to be Bitcoin’s complementary and hyper-scalable smart contract platform. Designed to work in conjunction with Nakamoto Consensus, Core Chain’s Satoshi Plus consensus combines Delegated Proof of Work and Delegated Proof of Stake to incorporate Bitcoin miners and CORE users in Core Chain security.
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